Noonan speaks out on bankers' pay rises

The Finance Minister Michael Noonan has criticised pay increases for bank executives funded by the taxpayer during the financial crisis.

Earlier this week, the Bank of Ireland's AGM voted in favour of an €843,000 per annum pay packet for chief executive Richie Boucher, while Minister Noonan chose not to exercise his vote despite the Government's 15% share in the bank.